HDFC Bank awards Rs 14.5 crore to businesses in 5th Parivartan grants
5th Parivartan grants – The winners of HDFC Bank’s 5th annual SmartUp Parivartan Grants 2022 were announced today. HDFC Bank has given funding to 85 innovative start-ups that are working to solve challenges in the environment, healthcare, and gender diversity.
These funds are intended to support startups that offer one-of-a-kind solutions for bringing about long-term change in society and the environment. These funds were made possible through #Parivartan, the bank’s main CSR programme for social initiatives.
The bank collaborated with 28 incubators, including IIM-B, ISB, AIC Ncore Developmental Impact Foundation, KIIT-Technology Business, Amrita Technology Business Incubator, International Institute of Information Technology, and Social Entrepreneurs Foundation India, among others, to shortlist and mentor the winners. Through a rigorous screening procedure, these incubators and the bank selected 85 entrepreneurs from a pool of over 150 applicants from throughout the country working in a variety of areas.
Vidcare Technologies, Zini the healthcare AI, Eco Deco, Ayang Trust, Navoday Foundation, and Felis Leo Ventures were among the winners. The awardees are working on a variety of issues, including women’s empowerment, biodegradable battery development, upskilling, recycling, and much more.
5th Parivartan grants
SmartUp Grants were established by the bank in 2017 and have since helped 90 start-ups from various cities across India. The bank has granted awards worth approximately Rs 35 crore over the last five years.
“We are nurturing the entrepreneurial spirit of the startup community through the SmartUp programme to create jobs, opportunities, and impact for society and the environment,” said Smita Bhagat, Group Head, Government and Institutional Business, BC & Partnership Banking, Ecosystem Banking, Inclusive Banking Group, and Start-ups, HDFC Bank. “
Smart-Up funding have already been awarded to some unusual concepts from start-ups focusing on new solutions to climate change, waste management, skills training, and improving livelihood. Previously, these funds were awarded to start-ups based in India’s tier 2 and tier 3 cities, rather than solely metro areas.
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